Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-11-23
SILVER AMI COPPER.

Ecoentric freaks of the Copper Market
From q Denv'r Point OF s'e"-A
Hopeful Lookout in E~"giand-Con-
ption Has argely Overtake" Pro-
dnctiop, and Prices Must Hold Up.
The following is taken from the bullion
circular OF Matthews = Webb, OF Denver:
Silver declined a tri1e and ruled in New
York as follows: Nov. 10. .95b: Nov. IL.
: Nov. ~. .95A; Nov. IA, .*5b; Nov,
Is, .94X; Nov. l6, .94H Deposits OF hnt
silver al New York assay Office, 9s 600 ~;
;mnorts for the week at New York, $l.6Oo,
1872: exports for the week from New Yer .
S2l1.35O. Copper las been the field OF a
lively circle with a rattling tumble from the
h;ph horizontal bar which the price mas
reached and then a litt.e rIi:nbi w again
from the lowest point. Early in the week
+be lake spot price was 1855. from which
"a declined nearly t"enty c.,'s DER iav un-
fiji Thnr-dav it touched 1l.5O for cash
Will. at the same IN I hiiI bars fell rom
the highest point OF EAT down IT, f43 10
In futures there WAS also the same VOL n
hnctuatiuns. January. for example
sod up to ID cents, ard lac in the week
fell back to 11.5O. Meanwhile, TIN
amount OF c,,,p.r which changed
hands on the NV York metal rxrhAus'
reached a to'ai of nearly e zoo 600 lh
and probably 81 p rre"t.' t l. quartz!
was original copper and the r. maud r re
| sales a, d specul .tion. ! he singul"' feature
| OF it all has been hat no ca,-e- "hatev I
were assigned to the advance excep, that
copper was too low, and rone whatever J..
the decline exctp, that copp'r Was too
high. but why i, was too low r too hls''
d.. .s not appear. OF course thu Calumet
and Hecla were or. dit-,l with n ii ger III HI
| Die, but absolutely no infnrma ion "ul
b. oh aimed from them or Others ara tht
appea ran cea are that the entire movement
il a sr cnI, i've one when may have
solid foun,ia ion fl it, basis or may he ="
bubble easily broken by Il few 'n"u~ai c
toms dropp-d OH to it by C'lumet an.
le Ia. Us future will probably SHOW ~ii'
fluctuations, rapid changes and very lHrS
ur, fits AID Losses. There is absolute,
! nothing in thu fu' darnen'aI statistics t.
lust, v 20 radical movement.
The following il from the circular o
James Lewis g. Son. Liverpool. for Nuvem
Der LIST:
C~,pprr-Fnr three weeks the market re
mained in tn ga me dull and listIess con i
ton, which appear d to have become
chronic. the value Of Chill bars varying &c
tween f39 l3-. Cd. and f4O or Cash var
rants. Towards the close OF the thtr'
week, however, the Swansea smrltrrs p'Ir
chased all the furnace material obt'l'ab
,h-,e at current rates, paying FIR a carg
of Bolivian ore aud reguIus " per UNI
above the price at which it had been ri
fered to them a few days before Whti
thee sales were announced, it was see
that they would have the effrc'
of considerably reducing the st ck'
at the end Of the mouth
a. d an they were followed by some pur
chases of Chill bars here for SWANSEA sine't
ers' account, the fourth week opened witt
a strong mar ct at an advanre OF s. Sd
per ton on the day. Rumors Of con bina
ton for the limitation OF thei producti"r
on the part OF the chief American producers
and the Rio Tinto Co. then beca me pre-
valert. and considerable excitement war
manifested. Infuel ced by active buying
On 81, har. odua"-ld lis Sd. on the 25th.
27s. 6s. on the Goth, 1Ss Sd. on the 9th,
2Os. Cd. on the 2Sth, and lis Sd. ON the
31st, the total advance on the week beins
over f4 ger ton-up Il f44 IS b. in: paid
yesterday for cash, and f44 It's. Cd fl
three months prompt bars. Unfortunate
ly for English consu 'ers and smelters the
I'd pid advance OF the past week has COME
at a time when they were very bare OF
stocks and so quickly that they were
unable to supply themselves at ths
lower range OF values. SHELTERS
have, however, been more Fortunate thar,
consumers, in that they have re, eived dur
ing the past month 1923 tons of Anacon-
da ,Eatte, and 500 ions have still to be
delivered to them, all bought at IS. per
unit-the present value being 9s. DER unit.
or a difference Of f3 Der ton. Since the LIST
of January, stork- in Eoglanl and Frarr-
have decreased fnm 81 .S47 to Al OO3
tons, or at the ate OF 1884 tons per
month; and there is every pro. pect ~
present OF d further decrease before the end
OF the year. This proves concJu-ively that
at the values current for the last two
years the consumption OF copper has larg"-
~ ovrrtaken the production, and that un
less stocks are to diminish to q dangerous
extent, an advance in values is necessary
/ r. the stability and general good OF the
trade.